4 News Developments You Should Know About From India appealing against the WTO ruling on export subsidies to New Delhi becoming the 9th fastest-growing prime residential market in the world, here is the weekly wrap up for you.
By Tahira Noor Khan •
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These are hot developments in the real-estate, business and employment sectors.
1. India on November 19 appealed against a World Trade Organization (WTO) ruling that had recommended withdrawal of its key export subsidy schemes, including the one for special economic zones in the next 3 to 4 months. The case was initiated in the WTO by the US.
2. New Delhi is now the 9th fastest-growing prime residential market in the world, according to a report "Prime Global Cities Index' by Global property consultant Knight Frank. The average luxury home prices in posh areas of Delhi are rising by 4.4 per cent year-on-year in the third quarter of 2019.
3. The growth of employment in India has slowed down in past 2-years, hitting hard the core companies, according to a study by CARE Ratings. The core industries have witnessed a virtual negative growth in hiring. The job creation grew at 9% in 2017-18 and 2.8% in 2018-19.
4. India's per capita consumption of stainless steel touched a new height of 2.5 kg in 2019. It was announced during the inaugural session of the 30th foundation anniversary celebration of the Indian Stainless Steel Development Association. The country now ranks among the top 15 nations in the world in terms of per capita consumption of stainless steel with demand coming from various industries.
